Akshaya Tritaya is also known as Akti or Akha Teej and some Jains refer to the festival as Varshi Tapa. This is a Jain, annual spring festival which falls on the third lunar, Ththi, day of the bright half, Shukla Paksha, of Vaisakha month. Observed as an auspicious time, even more auspicious if this day is on a Monday, to signify the third day to understand prosperity. In Sanskrit Akshaya – अक्षय्य means never decreasing in the sense of hope, prosperity, joy and success. An auspicious day and many will get married on this day or make expensive investments in gold or property. For many it is also a day of remembrance for loved ones who have died. In some regions this day is significant for women who pray for the wellbeing of the men in their lives or the one they hope to get engaged to in the future. After prayers germinating sprouts, fresh fruits and sweets are distributed. Many will fast, give to charity and help others as part of their festive practices.
Akshaya is believed to be the birthday of Parasurama who is the sixth incarnation of Vishnu and he is reserved in Vaishnava temples. Those who observe this day in the honour of Parasurama often refer to the day as Parasurama Jayanti.